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2002 (9) TMI 62 - MADRAS HIGH COURT"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in restoring the order of the Assessing Officer in regard to rectification of status of the assessee within the meaning of the provisions of section 154 of the Act?" - In this case, the power to rectify under section 154 of the Act has been properly done. It has never been the contention of the assessee that it had not sought for renewal or what had been stated by its chartered accountant in the letter, which accompanied the return, was itself erroneous or incorrect. The firm was duly registered. It had sought renewal and so was required to be treated as a registered firm while making the assessment. - The question referred is, therefore, answered in favour of the Revenue and against the assessee.
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